Forward Air price target lowered to $80 from $81 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on Forward Air to $80 from $81 and keeps a Hold rating on the shares. The past few years have been a “whirlwind” for the transportation and logistics industry, but Stifel believes 2024 will be a slow transition back to normalcy and will mark the conclusion of an extreme cycle in the industry’s history, the analyst tells investors. However, there are still variables and tail risks that could result in unexpected outcomes in the upcoming year, the firm adds.